MakeMyTrip Sees Unusually Large Options Volume (NASDAQ:MMYT)

MakeMyTrip Limited (NASDAQ:MMYT) saw some unusual options trading activity on Thursday. Investors purchased 10,115 call options on the stock. This represents an increase of approximately 2,641% compared to the typical daily volume of 369 call options.

Wall Street Analyst Weigh In

MMYT has been the subject of several research analyst reports. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Bank of America decreased their target price on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Weiss Ratings restated a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Finally, Citigroup dropped their price target on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.33.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MMYT. Leonteq Securities AG bought a new stake in MakeMyTrip in the 4th quarter worth about $29,000. Parallel Advisors LLC lifted its stake in MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after acquiring an additional 284 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of MakeMyTrip during the 4th quarter valued at about $46,000. Stone House Investment Management LLC boosted its holdings in shares of MakeMyTrip by 50.0% during the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after acquiring an additional 200 shares during the last quarter. Finally, Rakuten Securities Inc. grew its stake in shares of MakeMyTrip by 893.9% in the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after acquiring an additional 590 shares during the period. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Up 1.3%

NASDAQ MMYT traded up $0.50 during trading hours on Thursday, reaching $39.61. 758,128 shares of the company’s stock traded hands, compared to its average volume of 1,836,741. MakeMyTrip has a 52-week low of $38.22 and a 52-week high of $113.85. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a 50-day simple moving average of $55.75 and a 200 day simple moving average of $74.54. The firm has a market cap of $4.41 billion, a PE ratio of 82.49, a PEG ratio of 1.37 and a beta of 0.64.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. The business had revenue of $295.70 million for the quarter, compared to analysts’ expectations of $306.29 million. Sell-side analysts anticipate that MakeMyTrip will post 1.27 EPS for the current fiscal year.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.